Company

Ferrostaal further strengthens compliance

Essen, 2010-06-25

Michael J. Thun appointed Chief Compliance Officer

Michael J. Thun (40) will assume the role of Chief Compliance Officer at Ferrostaal AG on July 1, 2010. This will further strengthen the newly created Executive Board function "Compliance & Administration" under the leadership of Dr. Andreas Pohlmann.

From October 2007, Mr Thun was Compliance Officer Europe at Siemens AG. Together with Dr. Pohlmann, whom he is now following to Ferrostaal, Mr Thun achieved a compliance turnaround there and introduced an effective compliance system in a very short time. Before that, Mr Thun, who has a degree in business management, spent four years as the commercial head of the Traffic Engineering business unit at Siemens.

About Ferrostaal AG

Ferrostaal is a global provider of industrial services in plant construction and engineering. As a general contractor in plant construction, the company offers project development, project management and financial planning for turnkey installations, including petrochemical plants, gas and solar power stations, oil and gas installations, biofuels and industrial plants. Ferrostaal operates as an independent sales and service partner in the automotive, printing and packaging machinery, piping and marine construction sectors, employing around 4,400 people in 60 different countries. In 2008, its annual turnover amounted to 1.6 billion euros. 70% of the shares in Ferrostaal AG are held by the International Petroleum Investment Company from Abu Dhabi (IPIC), while 30% are owned by MAN AG (Munich, Germany).